NMI (NASDAQ:NMIH) Stock Gets Price Target Trim from JPMorgan Chase & Co.

NMI (NASDAQ:NMIH) had its price target cut by JPMorgan Chase & Co. from $50.00 to $45.00 in a research note published on Monday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

A number of other equities research analysts also recently issued reports on NMIH. BTIG Research started coverage on shares of NMI in a report on Tuesday, September 22nd. They issued a “buy” rating and a $54.00 price target on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of NMI in a research note on Wednesday, September 9th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $53.00 price objective on shares of NMI in a research note on Tuesday, August 4th. Truist Financial upped their target price on shares of NMI from $49.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $47.00 target price on shares of NMI in a research note on Monday, August 3rd. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $48.43.

NMI Stock Performance

Shares of NMIH opened at $39.70 on Monday. NMI has a 52-week low of $34.84 and a 52-week high of $46.74. The stock’s 50-day simple moving average is $43.04 and its 200 day simple moving average is $40.67. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of 7.81, a price-to-earnings-growth ratio of 1.07 and a beta of 0.56.

NMI (NASDAQ:NMIH) last posted its earnings results on Thursday, July 30th. The financial services provider reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.10. NMI had a return on equity of 15.13% and a net margin of 54.10%. The business had revenue of $187.89 million during the quarter, compared to analyst estimates of $156.26 million. During the same quarter in the previous year, the firm earned $1.22 EPS. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. Research analysts forecast that NMI will post 5.24 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Aurora Swithenbank sold 11,662 shares of NMI stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $44.51, for a total transaction of $519,075.62. Following the completion of the sale, the executive vice president owned 50,734 shares of the company’s stock, valued at approximately $2,258,170.34. This trade represents a 18.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adam Pollitzer sold 172,706 shares of the business’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $44.85, for a total value of $7,745,864.10. Following the transaction, the chief executive officer owned 270,267 shares of the company’s stock, valued at approximately $12,121,474.95. The trade was a 38.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 196,368 shares of company stock worth $8,800,740. Corporate insiders own 2.44% of the company’s stock.

Institutional Trading of NMI

Several institutional investors and hedge funds have recently modified their holdings of the business. Donald Smith & CO. Inc. bought a new stake in NMI during the second quarter worth about $36,262,000. Bank of New York Mellon Corp purchased a new position in shares of NMI in the 2nd quarter worth about $20,919,000. Winmill & CO. Inc. purchased a new position in shares of NMI in the 2nd quarter worth about $16,276,000. River Road Asset Management LLC bought a new position in shares of NMI during the 4th quarter valued at about $15,104,000. Finally, Bank of America Corp DE increased its position in shares of NMI by 22.7% during the 1st quarter. Bank of America Corp DE now owns 1,304,633 shares of the financial services provider’s stock valued at $48,937,000 after purchasing an additional 241,724 shares during the last quarter. Hedge funds and other institutional investors own 94.12% of the company’s stock.

About NMI

NMI Holdings, Inc (NASDAQ:NMIH) is a holding company whose principal operating subsidiary, National MI, provides private mortgage insurance in the United States. Mortgage insurance helps protect lenders and investors against losses when borrowers default on residential mortgage loans, enabling qualified borrowers to purchase homes with down payments below traditional requirements.

National MI primarily offers mortgage insurance for residential first-lien mortgages, including borrower-paid and lender-paid coverage.